President Muhammadu Buhari has reminded the National Assembly that the 2019 general elections will cost Nigeria N242.4 billion to prosecute effectively.
The President disclosed this in a letter to the Senate on Tuesday which was read on the floor during plenary.
He explained that implementing a budget of N9.12 trillion for 2018 will be extremely challenging and therefore does not consider it expedient to increase the 2018 budget to accommodate the funds needed for the 2019 General Elections.
In what appears like a request for virement, the President has, therefore, asked the National Assembly to transfer the funds appropriated for the new projects which are inserted in the 2018 budget to cover the sum of N228.8 billion for the elections.
The President noted that the balance of N78.3 billion will be provided in the 2019 budget.
The Senate is yet to discuss the request with its implications.